“I’ve talked to a Kenya Bank on Kshs 7 billion for 1,000 DUT townhouses by 1,000 Diaspora Kenyans,” said Dan Kamau, the Diaspora University Trust Executive Trustee and Diaspora University Town (DUT) Project Director during the last meeting of 2022 held on 17th Dec 2022. He added, "The 4 systems needed of Developer, Usage, Production and Finance are ready.
On the Developer, Dan reported that there are 400 Diaspora Kenyans townhouse developers. He asked the 400 developers to invite 600 persons saying, “Once the Trust has list of 1,000 Townhouse Developers, the Trust will get Kshs 7 billion for 1,000 townhouses development by the 1,000 developers. The Trust can complete the development of all 1000 townhouses as early as December 2024 if the list is ready before the end of 2022.”
Talking on the townhouses usage, Dan who is an economic systems developer stated that the DUT GDP growth jobs creation economic plans and systems for 10,000 jobs are ready. He said, "The persons getting the 10,000 jobs will be the users and buyers of the 1,000 townhouses. The DUT systems and plans will grow Kenya Gross Domestic Product (GDP) by over Kshs 20 billion as a university, town, hospital, medicine vaccine plant, tourism and over 300 MSMEs are developed."
On the production of the 1,000 townhouses, Dan said that the building material production systems and workforce are ready. He said that no project can be achieved without a material supply plan.
He thanked Ronald Mwagombe of Ndara B Community and his team for establishing a system for large quantities of building materials production. He said that the 28 companies that Ndara B Community is progressing to be open will produce about 100 million pieces of building materials that will be applied in the building of the 1000 townhouses and the 21 km road infrastructure network that services the townhouses.
Dan added that about Kshs 5 billion (70%) of the Kshs 7 billion budget will make payments toward the building materials and those getting jobs in the construction of the town. He said this will sustain the town, university and hospital.
Expounding on the Developer's benefit Dan said, “The 1,000 Diaspora Kenyans townhouse developers will benefit from the 1,000 townhouses completed with a budget of Kshs 7 billion as the valuation of each house grows from Kshs 7 million to Kshs 10 million as the first class that joins Diaspora university graduates.”
Based on this value, he calculated the total growth of value of the 1,000 townhouses as Kshs 10 billion saying, “The Kshs 3 billion will be the return of the developers as they individually sell the house developed when they want to.”
Explaining the finance system, Dan showed a table of the growth of banking deposits from Kshs 2.9 trillion, 2017 to Kshs 4.4 trillion, 2021 and the loan advances from Kshs 2 trillion to Kshs 2.9 trillion. He said that the Ksh 7 billion would become deposits and loan advances in the Kenya Banking system.
He added, "The DUT jobs creation, houses development and GDP growth systems when implementing the DUT project in Taita Taveta will growth the banking deposits by Ksh 100 billion and loan advances by Ksh 80 billion and create new wealth of Kshs 150 billion held in property and MSMEs business capital.